An employee counts U.S. dollar bills at a money exchange in central Cairo, Egypt, on March 20, 2019. (Mohamed Abd El Ghany/Reuters) LONDON/SYDNEY—The dollar edged lower on Monday against a basket of currencies after suffering its biggest weekly drop of the year as traders waited on economic data and policy decisions before selling it down any further.
The euro continued climbing, rising 0.15 percent to hit a fresh 16-month high at $1.12440. Versus the yen the dollar fell 0.27 percent to 138.38 yen per dollar, after touching on Friday its lowest against the Japanese currency in two months.
“Last week’s U.S. disinflation shock altered the FX landscape, but a few days without key data releases will tell us whether that impulse can keep the dollar on the back foot as the FOMC risk event draws nearer,” said Francesco Pesole, FX strategist at ING.
“Euro/dollar appears a bit overstretched in the short term […]
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